Minister for Industrial Development Satish Mahana said the temporary closure of industrial, commercial and institutional units had drastically slowed down economic activities.

Volunteers pack groceries to be distributed among the needy, in Prayagraj on Tuesday. PTI

Concerned over one of the worst economic slowdowns wrought by the ongoing lockdown, the state government has waived interest on its dues of industrial units till June 30.

Minister for Industrial Development Satish Mahana said the temporary closure of industrial, commercial and institutional units had drastically slowed down economic activities.

“In view of the financial crisis faced by these units, on the one hand, the state government has allowed resumption of operations by certain industrial units, on the other, it has taken the decision to waive interest on dues of industrial and commercial institutions of the state for three months,” said Mahana in an statement.

A circular, in this regard, has been issued by Principal Secretary, Infrastructure and Industrial Development, Alok Kumar to Noida, Greater Noida, Yamuna Expressway, UP State Industrial Development, Gorakhpur Industrial Development Authority, Satharia Industrial Development Authority and the Integrated Industrial Township Greater Noida Ltd. (IITGNL) on Delhi-Mumbai Industrial Corridor (DMIC).

However, it was clarified that the interest waiver will be available to units that pay their dues by June 30.

Earlier, lease payment and water charges were already postponed by the three authorities of Noida, Greater Noida and Yamuna Expressway Industrial Development Authority till June 30.